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Re: Shouldbe post# 29861

Thursday, 11/15/2018 12:43:18 PM

Thursday, November 15, 2018 12:43:18 PM

Post# of 54276
Shouldbe, based on what we know now, I would assume the following:

Zone 1 - Lowest zone in Mohilla Triassic. First zone of the original 3 primary zones. Reported to be a tight formation with no natural cracks. Hence, not a likely commercial producer without advance stimulation which may be impractical in Israel.

Zones 2 & 3. Second and third zones of the original 3 primary zones. Also in the Mohilla Triassic and had to be combined for testing either due to their communication with each other inside the formation or inside the wellbore due to packer problems. These zones were also reported to be tight formations with no natural cracks. Hence likely not commercial.

When my post was made that you referenced, it was not known if Zones 2 and 3 where in the Triassic or the lower Jurassic. In the reservoir sizing I assumed they were in the Jurassic. This is now known not to be true. The announced test results included all 3 primary zones and all were stated to be in the Triassic with future testing above the Triassic starting mid Oct.

Zones 4 & 5. Originally "secondary" zones, but now upgraded to 2 of 5 remaining primary zones. We know these zones are above the Triassic so are likely in the lower Jurassic and this is where testing would have started on Oct 14. This is the section where drilling had to be stopped for 42 days to upgrade well control including BOP and hence the section of the well that I am most excited about. We do not yet know test results for this section. My reservoir sizing would now apply to these zones as the sizing was for oil in the lower Jurassic. In other words, my sizing still applies to lower Jurassic, but we now know its not zones 2 or 3 but a higher zone(s). The sizing showed its possible that 350 million barrels are in this section with limited input data (public info only) and some assumptions. My sizing could be too high and it's also possible this section is gas only, which is OK. ZN needs revenue to sustain operations, either from oil or gas.

Zones 6, 7, and 8. Not in the original test plan, but now the 3rd, 4th, and 5th zones of the remaining 5 primary zones. I suspect the upper zones (7? and 8) are in the Cretaceous since the video of logs showed hydrocarbons there which was confirmed by logs. Zone 6 and maybe zone 7 might be in the upper Jurassic. This formation had fractured carbonate, which is a great reservoir rock and it showed gas. However, the upper Jurassic had less gas than the lower Jurassic, low pressure, and formations with water. So, zone 6 could be in the lower Jurassic, upper Jurassic, or even a third zone in the Cretaceous. There are many combinations here, but I assume the lower Jurassic is being tested for sure.

Bottom line is that testing on Oct 14 most likely started in Zone 4 (test from bottom up) which is most likely in the lower Jurassic (above the Triassic with awesome drill and log data). Also, my reservoir sizing still applies to the lower Jurassic regardless of what zone # it is assigned.

Hope this helps!
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